US-based fashion brand Guess has unveiled results for its fourth quarter and fiscal year ended January 28, 2017. In the fourth quarter, the apparel retailer recorded GAAP net earnings of US $ 6.6 million, an 86.3 per cent decrease from US $ 47.8 million from the fourth quarter of fiscal 2016.
Total net revenue for the fourth quarter of fiscal 2017 however increased by 3.2 per cent to US $ 679.3 million compared to US $ 658.3 million in the prior-year quarter. In constant currency, net revenue increased by 4.3 per cent.
Total net revenue for fiscal year 2017 increased 0.2 per cent to US $ 2.21 billion compared to US $ 2.20 billion in the prior year. In constant currency, net revenue increased by 1 per cent.
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Region-wise, Americas retail revenues decreased 4.7 per cent in US dollars and 4.1 per cent on constant currency basis. In the US and Canada, retail sales including e-commerce decreased 4.9 per cent in US dollars and 4.5 per cent in constant currency. Europe revenues improved 8.9 per cent in US dollars and 9.2 per cent in constant currency. Asia revenues increased 3.6 per cent in US dollars and 4.9 per cent in constant currency. Americas wholesale revenues also decreased 5.9 per cent in US dollars and 2.4 per cent in constant currency terms.
